Spotify Technology S.A. (NYSE:SPOT) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 311.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 842,745 shares of the company’s stock after buying an additional 638,047 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.42% of Spotify Technology worth $377,027,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Hillsdale Investment Management Inc. acquired a new position in shares of Spotify Technology during the 4th quarter worth approximately $27,000. Quent Capital LLC raised its stake in shares of Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after buying an additional 57 shares during the period. Noble Wealth Management PBC acquired a new position in shares of Spotify Technology during the 4th quarter worth approximately $52,000. Colonial Trust Co SC raised its stake in shares of Spotify Technology by 1,009.1% during the 4th quarter. Colonial Trust Co SC now owns 122 shares of the company’s stock worth $55,000 after buying an additional 111 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Spotify Technology during the 4th quarter worth approximately $56,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SPOT. Macquarie upped their target price on Spotify Technology from $600.00 to $665.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Robert W. Baird increased their price objective on Spotify Technology from $700.00 to $730.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. UBS Group reduced their price objective on Spotify Technology from $690.00 to $680.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. increased their price objective on Spotify Technology from $640.00 to $670.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Finally, Cantor Fitzgerald reduced their price objective on Spotify Technology from $600.00 to $520.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Eight research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and a consensus price target of $609.07.

Spotify Technology Trading Down 0.9%

NYSE SPOT opened at $658.52 on Wednesday. The stock has a market cap of $134.80 billion, a PE ratio of 110.68 and a beta of 1.72. Spotify Technology S.A. has a twelve month low of $288.07 and a twelve month high of $669.00. The stock has a fifty day simple moving average of $590.56 and a 200-day simple moving average of $537.33.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by ($1.16). The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.97 earnings per share. Research analysts predict that Spotify Technology S.A. will post 10.3 EPS for the current year.

Spotify Technology Company Profile

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.